Chinese automaker BYD announced that it produced over 3 million new energy vehicles in 2023, surpassing Tesla’s production for the second consecutive year. However, Tesla produced 1.84 million cars in the same period, leading in battery-only production. BYD’s total production includes 1.6 million battery-only passenger cars and 1.4 million hybrids. The majority of BYD’s vehicles… Continue reading BYD beats Tesla for a second straight year after producing more than 3 million cars in 2023

Rivian Automotive faced a nearly 10% decline in its stock during early Tuesday trading following the company’s report on increased vehicle production in the fourth quarter but a decrease in deliveries compared to the previous period. From October to December, Rivian delivered 13,972 vehicles, marking a 10.2% decline from the third quarter of 2023, although… Continue reading Rivian stock falls on declining fourth-quarter EV deliveries

Maersk, the Danish shipping giant, has declared a complete pause on all shipping transit through the Red Sea and Gulf of Aden until further notice following an attack on one of its vessels by militants over the weekend. This decision extends a 48-hour halt that was initially implemented on Sunday in response to the attack.… Continue reading Maersk halts Red Sea shipping until further notice after Houthi militant attack

In a remarkable achievement, SpaceX, led by Elon Musk, shattered its own annual record for orbital rocket launches in 2023, completing an astounding 96 successful missions with an average launch frequency of every four days. This comprised 91 launches using the Falcon 9 rocket and an additional five with the Falcon Heavy, surpassing its prior… Continue reading SpaceX sets new rocket record with 96 successful launches in 2023

In the wake of years marked by robust consumer spending, corporations are encountering the boundaries of their pricing power. Notable examples include FedEx observing a retreat from pricier shipping choices, airlines like Southwest offering discounted fares, and companies such as Target and General Mills revising their sales projections due to more budget-conscious consumers. This shift… Continue reading From FedEx to airlines, companies are starting to lose their pricing power

Boeing is advising airlines to conduct inspections on their 737 Max planes to address a potential issue with the rudder control system—a “possible loose bolt.” The recommendation comes after an international operator discovered a bolt with a missing nut during routine maintenance, and Boeing subsequently identified another undelivered aircraft with a nut that was not… Continue reading Boeing urges inspections of 737 Max planes for ‘possible loose bolt’

In the latest CNBC’s Delivering Alpha Stock Survey poll, the sentiment among the 300 investors, traders, and money managers surveyed is largely in favor of Jerome Powell and the Federal Reserve. An impressive 88% of respondents rated the Fed’s performance in 2023 as excellent or good, surpassing the 77% from the previous survey three months… Continue reading Investors have faith in the Fed in 2024, see bank stock comeback, CNBC survey shows

On Wednesday, U.S. Treasury yields experienced a decline as investors assessed the future outlook for monetary policy and financial markets in the coming year. The yield on the 10-year Treasury dropped by almost 10 basis points to 3.789%, while the 2-year Treasury yield edged down by 4 basis points to 4.246%. It’s important to note… Continue reading Treasury yields fall as investors weigh the 2024 outlook for interest rates

The New York Times has initiated a lawsuit against Microsoft and OpenAI, the creator of the AI chatbot ChatGPT, alleging copyright infringement and misuse of the newspaper’s intellectual property for training large language models. The lawsuit, filed in the U.S. District Court for the Southern District of New York, aims to hold Microsoft and OpenAI… Continue reading New York Times sues Microsoft, ChatGPT maker OpenAI over copyright infringement

The U.S. automotive industry is anticipated to experience a modest increase in new vehicle sales in the coming year, according to forecasts from leading automotive data firms. This expected growth, ranging from 1% to 4% year-over-year, is attributed to the ongoing normalization of the automotive sector following disruptions caused by the global coronavirus pandemic and… Continue reading New car sales are expected to rise slightly next year in the U.S.

The state of home affordability in major U.S. cities has generally worsened, but Austin, Texas, stands out as an exception, experiencing a decline in home prices over the 12 months leading up to November, according to a report by online real estate platform Redfin. In this period, home sale prices in the Austin metro area… Continue reading Home prices are up in all major U.S. cities, except one: ‘The Austin housing market has whiplash,’ says economist

Last week, there was a notable decrease in mortgage demand compared to the preceding week, despite a continuous decline in interest rates, as reported by the Mortgage Bankers Association (MBA) through its seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (up to $726,200) dropped to 6.83% from… Continue reading Mortgage demand slips despite another drop in interest rates